Speech by U.S. SEC Chair: Four Categories of Tokens (Translated by Foresight News) U.S. SEC Chair Paul Atkins elaborated on the latest developments of the 'Project Crypto' initiative during his speech, proposing a token classification system based on the Howey Test. This system divides crypto assets into four categories: digital commodities (or network tokens), digital collectibles, digital utilities, and tokenized securities. He emphasized that most crypto assets themselves are not securities but may constitute investment contracts during the issuance phase, and these investment contracts can become invalid after fulfillment or termination. Atkins pointed out that the SEC will define regulatory boundaries based on economic substance and consider creating exemptions and tailored issuance systems for crypto assets to protect investors while fostering innovation. Read the full article: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=51849